Wabtec $WAB Shares Purchased by Westpac Banking Corp

Westpac Banking Corp lifted its position in shares of Wabtec (NYSE:WAB) by 39.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,529 shares of the transportation company’s stock after purchasing an additional 434 shares during the quarter. Westpac Banking Corp’s holdings in Wabtec were worth $320,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in WAB. Pacer Advisors Inc. raised its position in shares of Wabtec by 2,220.1% in the first quarter. Pacer Advisors Inc. now owns 738,038 shares of the transportation company’s stock worth $133,843,000 after acquiring an additional 706,227 shares during the period. Aviva PLC increased its position in shares of Wabtec by 7,960.0% in the second quarter. Aviva PLC now owns 527,685 shares of the transportation company’s stock valued at $110,471,000 after buying an additional 521,138 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Wabtec by 33.4% during the 2nd quarter. Nordea Investment Management AB now owns 1,592,529 shares of the transportation company’s stock valued at $333,062,000 after buying an additional 398,782 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Wabtec by 56.3% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 778,156 shares of the transportation company’s stock worth $162,907,000 after acquiring an additional 280,140 shares in the last quarter. Finally, Boston Partners grew its position in shares of Wabtec by 8.7% in the second quarter. Boston Partners now owns 2,255,994 shares of the transportation company’s stock valued at $470,267,000 after purchasing an additional 180,786 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on WAB shares. Weiss Ratings restated a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, October 8th. Bank of America boosted their target price on Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Susquehanna upped their target price on Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a report on Thursday, October 23rd. Citigroup upped their target price on Wabtec from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday. Finally, Wells Fargo & Company started coverage on Wabtec in a report on Thursday. They set an “equal weight” rating and a $221.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $226.78.

Wabtec Trading Down 2.1%

Shares of Wabtec stock opened at $199.66 on Tuesday. The stock has a 50 day moving average of $197.63 and a 200 day moving average of $199.33. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.42. The firm has a market capitalization of $34.13 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 1.55 and a beta of 1.09. Wabtec has a fifty-two week low of $151.81 and a fifty-two week high of $216.10.

Wabtec (NYSE:WAB) last posted its earnings results on Wednesday, October 22nd. The transportation company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.04. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.88 billion. Wabtec had a return on equity of 13.84% and a net margin of 10.94%.The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.00 earnings per share. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. As a group, research analysts predict that Wabtec will post 8.54 earnings per share for the current year.

Wabtec Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Wabtec’s dividend payout ratio is presently 14.53%.

Insider Buying and Selling

In other Wabtec news, CAO John A. Mastalerz, Jr. sold 2,766 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $210.00, for a total transaction of $580,860.00. Following the completion of the transaction, the chief accounting officer owned 5,286 shares of the company’s stock, valued at $1,110,060. This trade represents a 34.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gregory Sbrocco sold 2,953 shares of the business’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $195.43, for a total transaction of $577,104.79. Following the completion of the sale, the executive vice president directly owned 17,829 shares in the company, valued at $3,484,321.47. This trade represents a 14.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,322 shares of company stock valued at $5,315,871 over the last three months. Company insiders own 1.10% of the company’s stock.

About Wabtec

Westinghouse Air Brake Technologies Corporation, together with its subsidiaries, provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It offers diesel-electric, battery, and liquid natural gas-powered locomotives; engines, electric motors, and propulsion systems; and marine and mining products.